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EU and IMF bailout drafts confirm conditionality as well as differences on primary surplus
EconomyProgrammetarget of 3.5 percent by 2018 that would be covered by: 1) A holistic pension reform yielding savings of 1 percent of GDP and would also compensate for the Council of State decision ruling unconstitutional the pension cuts implemented in 2012 (estimated cost of 2 percent of GDP) 2) Personal income
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Tsipras sails through multi-bill vote, looks to disbursement and debt relief
PoliticsGreek Politicsall of his 153 MPs support the legislation despite it containing another 1 percent of GDP in tax... on pension and income tax measures worth 2 percent of GDP) unscathed. He undoubtedly emerges from... surplus target to 2 percent of GDP between 2017 and 2021, while in return aiming for a growth rate
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Details of technical agreement between Greece and lenders set out in draft sMoU
EconomyProgrammeevening. The 53-page document dated May 2 is broadly similar to a previous draft of April 23 that we... (2 million). Although the tax expenditures to be abolished are not detailed in the draft sMoU... (MTFS) for 2018-2021, a pension reform with net savings of 1 percent of GDP in 2019-2021
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Newsletter 125 -30/06/2017
of the Noor 1 cargo ship seized with around 2 tons of heroin on board in 2014 - had asked for protection..., Panos Kammenos over his contact with a convict connected to the Noor 1 drug smuggling case... envisaged in this five-year period. 2 Budget primary surplus up 26.5 pct Five-month primary target beats
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Greece - On the importance of productivity growth
Agoraof productivity growth recovering to around 1 percent a year. We also accept this assumption for Greece. [2..., on average. Table 1 presents key statistics to support our bearings. The population data come from... the 1970s onwards.[1] All industrial countries show this pattern. This development is not particular
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Finance Ministry targets 3 bln from unpaid taxes
EconomyMacroeconomypercent of total. The upper bracket, related to tax debt in excess of 1 million euros relates to 2,500... a useful insight into outstanding tax debt. Unpaid taxes stood at a total of 76 billion euros at the end of January 2015, of which 29.4 billion (38.7 percent of total) was created before 2009
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Piraeus Bank reports net profit of 164.3 mln in Q2
EconomyBankingloan provisions eased by 1 percent to 475.7 million. Top-line results mainly incorporate... deposit rates show there is difference of 35 bps between the front and the total book, suggesting further... 441 branches (26 percent of total) have been shut down over the past 12 months. The bank says it has
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Growing hopes that Greek recession will be milder than expected
Economypresented this week its updated forecasts calling for a GDP contraction of 1 percent this year from 2... this year, which is much softer than its previous forecast for a recession of 2 percent for 2015. Note, though, that the bank expects a bigger decline in 2016, when it believes GDP will fall by 2 to 3
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BoG proposes debt relief measures and lower primary surplus target from 2018
EconomyMacroeconomy: 1) GDP growth in line with the adjustment programme until 2022 and 1.5 percent thereafter 2) Inflation close to 2 percent until 2019 3) EFSF and ESM loan rates of 2.6 percent in 2020 and 3.5 percent... of debt relief measures that would allow Greece’s primary surplus target to be lowered to 2 percent
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General govt primary cash surplus at 1.68 bln in April, arrears rise by 164 mln
EconomyMacroeconomy, representing under 1 percent of the total. Guarantees The stock of gg guarantees fell by 116 million..., bringing the total figure to 221 million euros. The equivalent figure for the same time last year was 864 million. A decline was also noted in local governments, where the total fell by 65 million euros
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